Shopify Inc. (NYSE:SHOP) (TSE:SH)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued on Thursday. They currently have a $120.00 price target on the software maker’s stock. Wedbush’s price objective points to a potential upside of 21.57% from the company’s current price.

Several other equities research analysts also recently weighed in on SHOP. Piper Jaffray Companies reissued a “buy” rating and issued a $110.00 price target on shares of Shopify in a report on Wednesday. KeyCorp reissued a “buy” rating and issued a $116.00 price target on shares of Shopify in a report on Wednesday. Roth Capital raised their price target on Shopify from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday. Monness Crespi & Hardt raised Shopify from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, October 27th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $90.00 price target (up previously from $70.00) on shares of Shopify in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. Shopify presently has an average rating of “Buy” and an average price target of $100.45.

Shopify (SHOP) opened at $98.71 on Thursday. The company has a quick ratio of 11.80, a current ratio of 10.64 and a debt-to-equity ratio of 0.02.

Shopify (NYSE:SHOP) (TSE:SH) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million during the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative return on equity of 6.58% and a negative net margin of 7.90%. The company’s quarterly revenue was up 75.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) earnings per share. equities analysts expect that Shopify will post -0.6 EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. HL Financial Services LLC increased its position in shares of Shopify by 14.7% in the third quarter. HL Financial Services LLC now owns 9,573 shares of the software maker’s stock valued at $1,115,000 after buying an additional 1,225 shares in the last quarter. Jennison Associates LLC increased its position in shares of Shopify by 47.0% in the third quarter. Jennison Associates LLC now owns 181,569 shares of the software maker’s stock valued at $21,151,000 after buying an additional 58,033 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Shopify by 18.5% in the third quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock valued at $413,000 after buying an additional 544 shares in the last quarter. Syntal Capital Partners LLC increased its position in shares of Shopify by 11.6% in the third quarter. Syntal Capital Partners LLC now owns 8,219 shares of the software maker’s stock valued at $957,000 after buying an additional 857 shares in the last quarter. Finally, Andra AP fonden increased its position in shares of Shopify by 7.1% in the third quarter. Andra AP fonden now owns 16,500 shares of the software maker’s stock valued at $2,394,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 55.03% of the company’s stock.

About Shopify

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Analyst Recommendations for Shopify (NYSE:SHOP)

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